Question 1

It is important for the CPA to consider the competence of the clients' personnel because their competence has a direct impact upon the

Accepted Answer

A) cost/benefit relationship of the system of internal control. 
B) achievement of the objectives of internal control. 
C) comparison of recorded accountability with assets. 
D) timing of the tests to be performed. 
A) cost/benefit relationship of the system of internal control. 
B) achievement of the objectives of internal control. 
C) comparison of recorded accountability with assets. 
D) timing of the tests to be performed.

Question 2

In an IT system,automated equipment controls or hardware controls are designed to

Accepted Answer

A) correct errors in the computer programs. 
B) monitor and detect errors in source documents. 
C) detect and control errors arising from the use of equipment. 
D) arrange data in a logical sequential manner for processing purposes. 
A) correct errors in the computer programs. 
B) monitor and detect errors in source documents. 
C) detect and control errors arising from the use of equipment. 
D) arrange data in a logical sequential manner for processing purposes.

Question 3

Which of the following parties provides an assessment of the effectiveness of internal control over financial reporting for public companies?

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 4

When auditing a client who uses a database management system,the auditor is principally aware of elevated risk due to the fact that

Accepted Answer

A) multiple users can access and update data files. 
B) the accounting information is only in one place. 
C) the database administrator may lack appropriate accounting knowledge. 
D) multiple users could all access the data simultaneously causing a system shutdown. 
A) multiple users can access and update data files. 
B) the accounting information is only in one place. 
C) the database administrator may lack appropriate accounting knowledge. 
D) multiple users could all access the data simultaneously causing a system shutdown.

Question 5

Processing controls are a category of application controls.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following best describes the purpose of control activities?

Accepted Answer

A) the actions,policies and procedures that reflect the overall attitudes of management 
B) the identification and analysis of risks relevant to the preparation of financial statements 
C) the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives 
D) activities that deal with the ongoing assessment of the quality of internal control by management 
A) the actions,policies and procedures that reflect the overall attitudes of management 
B) the identification and analysis of risks relevant to the preparation of financial statements 
C) the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives 
D) activities that deal with the ongoing assessment of the quality of internal control by management

It is important for the CPA to consider the competence of the clients' personnel because their competence has a direct impact upon the

In an IT system,automated equipment controls or hardware controls are designed to

Which of the following parties provides an assessment of the effectiveness of internal control over financial reporting for public companies?

When auditing a client who uses a database management system,the auditor is principally aware of elevated risk due to the fact that

Processing controls are a category of application controls.

Which of the following best describes the purpose of control activities?

The Demand for Audit and Other Assurance Services

The Cpa Profession

Audit Reports

Professional Ethics

Legal Liability

Audit Responsibilities and Objectives

Audit Evidence

Audit Planning and Analytical Procedures

Materiality and Risk

Fraud Auditing

Assessing Control Risk and Reporting on Internal Controls

Overall Audit Strategy and Audit Program

Audit of the Sales and Collection Cycle: Tests of Controls

Audit Sampling for Tests of Controls and Substantive Tests of Transactions

Completing the Tests in the Sales and Collection Cycle: Accounts Receivable

Audit Sampling for Tests of Details of Balances

Audit of the Acquisition and Payment Cycle: Tests of Controls,

Completing the Tests in the Acquisition and Payment Cycle:

Audit of the Payroll and Personnel Cycle

Audit of the Inventory and Warehousing Cycle

Audit of the Capital Acquisition and Repayment Cycle

Audit of Cash and Financial Instruments

Completing the Audit

Other Assurance Services

Internal and Governmental Financial Auditing and Operational Auditing

Filters

Exam 11: Internal Control and Coso Framework

It is important for the CPA to consider the competence of the clients' personnel because their competence has a direct impact upon the

In an IT system,automated equipment controls or hardware controls are designed to

Which of the following parties provides an assessment of the effectiveness of internal control over financial reporting for public companies?

When auditing a client who uses a database management system,the auditor is principally aware of elevated risk due to the fact that

Processing controls are a category of application controls.

Which of the following best describes the purpose of control activities?

The Demand for Audit and Other Assurance Services

The Cpa Profession

Audit Reports

Professional Ethics

Legal Liability

Audit Responsibilities and Objectives

Audit Evidence

Audit Planning and Analytical Procedures

Materiality and Risk

Fraud Auditing

Assessing Control Risk and Reporting on Internal Controls

Overall Audit Strategy and Audit Program

Audit of the Sales and Collection Cycle: Tests of Controls

Audit Sampling for Tests of Controls and Substantive Tests of Transactions

Completing the Tests in the Sales and Collection Cycle: Accounts Receivable

Audit Sampling for Tests of Details of Balances

Audit of the Acquisition and Payment Cycle: Tests of Controls,

Completing the Tests in the Acquisition and Payment Cycle:

Audit of the Payroll and Personnel Cycle

Audit of the Inventory and Warehousing Cycle

Audit of the Capital Acquisition and Repayment Cycle

Audit of Cash and Financial Instruments

Completing the Audit

Other Assurance Services

Internal and Governmental Financial Auditing and Operational Auditing

Filters